Genespire Secures €46.6 Million to Propel Gene Therapy Forward
Genespire Secures €46.6 Million in Series B Financing
Genespire, a pioneering biotechnology company focused on developing innovative off-the-shelf gene therapies for pediatric patients, has announced a landmark funding achievement. The company secured €46.6 million (approximately $52 million) in a Series B financing round that will accelerate the development of its first pediatric in-vivo gene therapy. This funding marks one of the most significant private financing efforts for an Italian biotech firm.
The Financing Details
The investment round was co-led by prominent firms including Sofinnova Partners, XGEN Venture, and CDP Venture Capital, forming a robust syndicate with Indaco SGR. These funds are earmarked for advancing GENE202, the lead therapeutic candidate targeting Methylmalonic Acidemia (MMA), a rare genetic disorder affecting the metabolism of amino acids and fats.
Understanding Methylmalonic Acidemia (MMA)
MMA manifests early in an infant's life and can have severe health repercussions, including significant mortality and morbidity rates. Symptoms often include muscle weakness, seizures, and developmental delays. Currently, there are no effective disease-modifying treatments available. Genespire’s GENE202 is positioned as a groundbreaking solution, utilizing the company’s unique Immune Shielded Lentiviral Vector (ISLV) platform, which allows for lifelong therapy production by the patient’s liver via intravenous delivery.
Innovative Approach to Gene Therapy
Genespire's approach represents a vital advancement in the field of pediatric gene therapies, especially for those patients enduring high unmet medical needs. The ISLV technology, developed by notable gene therapy pioneers Professor Luigi Naldini and Dr. Alessio Cantore, is designed specifically for children, promising transformative treatments for previously intractable genetic disorders.
Strengthening Gene Therapy Pipeline
This round of financing will not only propel GENE202 into clinical trials but will also enhance Genespire's broader gene therapy pipeline, facilitating the exploration of additional products targeting various genetic diseases. This expanded focus on R&D underscores the company’s commitment to innovation and to providing much-needed therapies for vulnerable patient populations.
Leadership Insights on the Funding
Karen Aiach-Pignet, the CEO of Genespire, expressed her enthusiasm regarding the financing round, stating, "Our innovative ISLV platform enables us to bring forward therapies that can significantly change the lives of children battling genetic diseases. The strong backing from our investors illustrates their confidence in our potential. We also extend our gratitude to our former CEO, Julia Berretta, whose contributions were instrumental in achieving this success. We eagerly anticipate our collaborations with our investors and partners in the journey ahead as we aim to take GENE202 into clinical settings."
Lucia Faccio, a Partner at Sofinnova Partners, commented on their ongoing commitment to Genespire, noting the impressive capabilities of Genespire’s team and their pioneering lentiviral technology. She emphasized their collective mission to advance single-treatment solutions for genetic disorders among children.
Paolo Fundarò from XGEN Venture added that the recent successes in gene therapy significantly underscore the promising future of Genespire's approach, suggesting vast possibilities ahead.
Additional Information on CDP Venture Capital
Agostino Scornajenchi, General Manager of CDP Venture Capital, remarked on the strategic importance of investing in biotech sectors amid Italy's broader economic development plans and emphasized the role of Genespire in establishing new standards in gene therapy.
With the completion of this financing round, Marco Dieci of CDP Venture Capital is set to join Genespire’s Board of Directors, enhancing the strategic oversight and guidance of the company as it moves forward.
About Genespire
Founded in 2020 in Milan by Prof. Luigi Naldini and Dr. Alessio Cantore, Genespire is dedicated to crafting innovative gene therapies specifically designed for pediatric patients suffering from genetic disorders. The company utilizes ISLV technology to enable patients to produce therapeutic agents for their lifetime, offering the potential for curative treatments for inherited metabolic diseases with a significant unmet medical need.
Frequently Asked Questions
What is the focus of Genespire's recent financing?
Genespire's recent financing round of €46.6 million is aimed at advancing its pediatric gene therapy, GENE202, for the treatment of Methylmalonic Acidemia.
Who are the investors in this Series B round?
The financing round was co-led by Sofinnova Partners, XGEN Venture, and CDP Venture Capital, in collaboration with Indaco SGR.
What is Methylmalonic Acidemia (MMA)?
Methylmalonic Acidemia (MMA) is a genetic disorder that impairs metabolism and can lead to serious health complications, including seizures and developmental delays.
What technology does Genespire use for its therapies?
Genespire utilizes Immune Shielded Lentiviral Vector (ISLV) technology that allows long-lasting therapeutic production within patients’ livers.
How will the funds be used besides developing GENE202?
The funds will also support the discovery and preclinical development of additional gene therapy products targeting various genetic disorders.
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